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News Breaks
December 14, 2012
13:02 EDTSMGScotts Miracle-Gro sees FY13 operating margin 11%-11.5%
Operating margin rate is expected to be in the range of 11%-11.5% in FY13. Interest expense is forecasted to be flat to modestly higher compared to FY12. The effective tax rate for the year is projected to be in a range of 36%-37%.
News For SMG From The Last 14 Days
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October 20, 2014
08:32 EDTSMGScotts Miracle-Gro signs definitive agremeent to acquire Action Pest Control
Scotts Miracle-Gro announced that its subsidiary EG Systems, doing business as Scotts LawnService, has signed a definitive agreement to acquire the assets of Action Pest Control. The transaction, which is expected to close by January 2015, would mark the company's first acquisition of a home pest control business. For more than a year, Scotts LawnService has been operating a pest business in Florida using the Company's Ortho brand. The effort has provided a successful proving ground for a business model that offers consumers the benefit of a lawn and pest service from the same provider. Scotts LawnService anticipated sales of approximately $260M in fiscal 2014. Given the fragmented nature of the $7B home pest control category, the Company believes it can complement organic growth in lawn service by consistently expanding its pest control platform. Action Pest provides a comprehensive range of residential and commercial pest control services to homeowners and businesses throughout Indiana, Kentucky, and Illinois. The company expects the Action Pest business to add annual sales approaching $15M and for the transaction to be earnings accretive in fiscal 2015.
October 6, 2014
08:33 EDTSMGScotts Miracle-Gro acquires Fafard and Brothers
Scotts Miracle-Gro announced that the company's indirect subsidiary, Scotts Canada, has acquired Fafard and Brothers. In continuous operation since 1940 and based in Saint-Bonaventure, Quebec, Canada, Fafard is a leader in the production of high-quality peat moss and high-performance growing media products, including peat-based and bark-based mixes, composts and premium soils. Fafard serves customers primarily across Ontario, Quebec and New-Brunswick. ScottsMiracle-Gro expects the Fafard business to add annual sales of approximately $40M and for the transaction to be earnings accretive in FY15.

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